Iran's legislation to charge ships passing through the Strait of Hormuz caused a double whammy yesterday! 3.31 Bitcoin Auntie's Trading Strategy

On Monday, Trump warned that if Iran does not open the Strait of Hormuz, the U.S. will "completely destroy all of Iran's power plants, oil wells, and Hark Island." Previously, Iran stated that the U.S. peace proposal was "unrealistic" and launched multiple missile attacks on Israel. Soon after, the Iranian parliament officially passed legislation to charge transit ships through the Strait of Hormuz, turning the world's most critical energy route into a "toll station." The blustering Trump then issued a tough statement: "End it in two minutes."

Over the weekend, I identified a bottoming point and went long at the lowest point. Yesterday, I took a long at the high and then went short, which aligned with expectations. I gained nearly 2,000 points on Bitcoin and about 100 points on Ethereum. Currently, I also hold a long on Bitcoin for over 1,000 points and about 60-70 points on Ethereum. Follow the trend and freely adjust your positions! This morning, the daily chart closed with a long upper shadow, indicating resistance on the rally mainly due to unsatisfactory negotiation results. Therefore, maintain the idea of shorting on rebounds! Last night, I held my short positions with stop-losses in place and patience. If you missed the rebound, continue to wait for opportunities!

3.31 Shorting Strategy

For Bitcoin, continue shorting on rebounds between 68,000-68,500; conservative traders can enter at 69,000-69,500 with a stop around 70,500. Target around 67,000-66,500-66,000; if broken, target around 65,500-65,000. Adjust stop-losses accordingly based on market conditions!

For Ethereum, continue shorting on rebounds between 2,070-2,100; conservative traders can enter at 2,130-2,150 with a stop around 2,180. Target around 2,000-1,970; if broken, target around 1,950-1,920-1,900. Adjust stop-losses accordingly based on market conditions!

3.31 Longing Strategy:

Bitcoin retraced to 65,000-65,500 for a long position, with a stop around 64,000. Target around 66,500-67,000-67,500-68,000. Adjust stop-losses based on market conditions!

Ethereum retraced to 1,940-1,970 for a long, with a stop around 1,900. Target around 2,030-2,070. Adjust stop-losses accordingly!

The technicals are forming a bottom, but the Middle East conflict is dampening market confidence, coupled with the Fed's indecision between rate hikes and cuts. So, don’t be overly bullish for now; wait for major positive news before entering and placing bets! Currently, trade within the range!